HomeMy WebLinkAboutR-11125 adopting the Appropriation Limits for Fiscal Year 2020-21 and revising the Appropriation Limits for Fiscal Years 2017-18, 2018-19, 2019-20R 11125
RESOLUTION NO. 11125 (2020 SERIES)
A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS OBISPO,
CALIFORNIA, ADOPTING THE APPROPRIATION LIMITS FOR FISCAL
YEAR 2020-21 AND REVISING THE APPROPRIATION LIMITS FOR
FISCAL YEARS 2017-18, 2018-19, 2019-20
WHEREAS, the voters approved the Gann Spending-Limitation Initiative on November 6,
1979 and Proposition 111 on June 5, 1990, which establish and define annual appropriation limits on
state and local government agencies; and
WHEREAS, regulations require that the governing body of each local agency establish its
appropriations limit and annual adjustment factors by resolution; and
WHEREAS, the required calculations to determine the City’s appropriations limit, and
estimated appropriations subject to limitation for fiscal year 2020-21, have been performed by the
Department of Finance and are available for public review; and
WHEREAS, in performing the required calculations for the appropriation limit, incorrect
percentages for Non-residential Assessed Valuation Due to New Construction were applied in fiscal
years 2017-18, 2018-19, 2019-20; and
WHEREAS, the Finance Department re-calculated the City’s appropriations limit for the
prior years and the City appropriated proceeds of taxes for each year well below the appropriation
limit; and
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of San Luis Obispo
as follows:
SECTION 1. The City’s appropriation limit and annual adjustment factors for fiscal year
2017-18 are revised as follows:
Appropriations Limit: 2016-17 (revised) $66,451,524
Increase in Non-Residential Assessed Valuation Due to New Construction 1.20%
Population Factor: County Population Growth 0.92%
Compound Percentage Factor (multiplicative not additive) 1.021%
Appropriations Limit: 2017-18 (revised) $67,867,633
SECTION 2. The City’s appropriation limit and annual adjustment factors for fiscal year
2018-19 are revised as follows:
Appropriations Limit: 2017-18 (revised) $67,867,633
Increase in Non-Residential Assessed Valuation Due to New Construction 1.88%
Population Factor: County Population Growth 0.35%
Compound Percentage Factor (multiplicative not additive) 1.022%
Appropriations Limit: 2018-19 (revised) $69,383,546
Resolution No. 11125 (2020 Series) Page 2
R 11125
SECTION 3. The City’s appropriation limit and annual adjustment factors for fiscal year
2019-20 are revised as follows:
Appropriations Limit: 2018-19 (revised) $69,383,546
Increase in Non-Residential Assessed Valuation Due to New Construction 6.37%
Population Factor: County Population Growth 0.24%
Compound Percentage Factor (multiplicative not additive) 1.066%
Appropriations Limit: 2019-20 (revised) $73,981,290
SECTION 4. The City’s appropriation limit and annual adjustment factors for fiscal year
2020-21 are adopted as follows:
Appropriations Limit: 2019-20 $73,981,290
Increase in Non-Residential Assessed Valuation Due to New Construction 1.92%
Population Factor: County Population Growth -0.04%
Compound Percentage Factor (multiplicative not additive) 1.88%
Appropriations Limit: 2020-21 $75,373,871
Upon motion of Council Member Pease, seconded by City Council Member Christianson,
and on the following roll call vote:
AYES: Council Member Christianson, Pease, Stewart, Vice Mayor Gomez and
Mayor Harmon
NOES: None
ABSENT: None
The foregoing resolution was adopted this 2nd day of June 2020.
____________________________________
Mayor Heidi Harmon
ATTEST:
____________________________________
Teresa Purrington
City Clerk
APPROVED AS TO FORM:
_____________________________________
J. Christine Dietrick
City Attorney
Resolution No. 11125 (2020 Series) Page 3
R 11125
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City
of San Luis Obispo, California, on ______________________.
____________________________________
Teresa Purrington
City Clerk